- Bitcoin is a digital currency created through mining, a process involving solving complex mathematical problems to verify transactions on the Bitcoin network.
- Once verified, transactions are added to the blockchain, a decentralized public ledger that records all Bitcoin transactions.
- Bitcoin transactions are made using a public key (like a bank account number) and a private key (like a password).
- Bitcoin is decentralized, meaning it is not controlled by any central authority but managed by a network of computers that work together to verify transactions and maintain the integrity of the blockchain.
- Bitcoin has a limited supply of 21 million Bitcoins, making it a deflationary currency that can increase in value as demand increases.
Bitcoin has changed the way people think about money and transactions. It is a digital currency that is created through mining, which involves solving complex mathematical problems to verify transactions on the Bitcoin network. Transactions are made using public and private keys, with the public key acting as a bank account number and the private key acting as a password. Once a transaction is verified, it is added to the blockchain, a decentralized public ledger that records all Bitcoin transactions.
Bitcoin is decentralized and not controlled by any central authority. Instead, it is managed by a network of computers that work together to verify transactions and maintain the integrity of the blockchain. It also has a limited supply of 21 million Bitcoins, which means it is a deflationary currency and can increase in value over time as demand increases.
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